The change that a firm expects in its competitor's choice of an output level in response to a change the firm makes in its price is called conjectural variation.

Name: The change that a firm expects in its competitor's choice of an output level in response to a change the firm makes in its price is called conjectural variation.
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The Answer of The change that a firm expects in its competitor's choice of an output level in response to a change the firm makes in its price is called conjectural variation.

The Change That a Firm Expects in Its Competitor's Choice